The United States should also phase out the one cent coin. Taking inflation into account, most things cost at least 10 times as much as they did 50 years ago. That means that the one cent coin really has 1/10 the purchasing power as it did 50 years ago. There is almost nothing that costs one cent that is not bought in bulk, which makes the penny really useless. Rounding up to the nearest 5 cents would not impact anyone's purchasing decision.

Eventually the 5 cent coin should be phased out but at this time it would probably be too much of a "change".

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